February 3, 2020 / 12:53 PM / 19 days ago

CANADA STOCKS-TSX futures rise after China cuts reverse repo rates

Feb 3 (Reuters) - Canada’s main stock index futures rose on Monday after China’s central bank lowered reverse repo rates and injected 1.2 trillion yuan of liquidity into the markets in a bid to soften the blow on the economy from a rapidly spreading virus.

March futures on the S&P/TSX index were up 0.25% at 7:00 a.m. ET.

Canada’s manufacturing PMI data is due at 9:30 a.m. ET

The Toronto Stock Exchange’s TSX index fell 0.99% to 17,318.49 on Friday.

Dow Jones Industrial Average e-mini futures were up 0.41% at 7:00 a.m. ET, while S&P 500 e-mini futures were up 0.49% and Nasdaq 100 e-mini futures were up 0.54%.

TOP STORY

Canada’s Eco Atlantic, UK’s Tullow Oil and France’s Total SA will meet early this month to assess recent drilling results and set budgets and targets for their jointly operated Orinduik block offshore Guyana, Eco Atlantic said on Monday.

ANALYST RESEARCH HIGHLIGHTS

Air Canada: Scotiabank cuts target price to C$58 from C$60

Canadian Pacific Railway Ltd: JPMorgan raises target price to C$380 from C$357

Imperial Oil Ltd: JPMorgan cuts target price to C$35 from C$37

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1579.9; -0.32%

US crude: $51.67; +0.21%

Brent crude: $56.4; - 0.39%

U.S. ECONOMIC DATA DUE ON MONDAY

0945 Markit Manufacturing PMI Final for Jan: Prior 51.7

1000 Construction spending mm for Dec: Expected 0.5%; Prior 0.6%

1000 ISM Manufacturing PMI for Jan: Expected 48.5; Prior 47.2

1000 ISM Manufacturing Prices Paid for Jan: Expected 50.8; Prior 51.7

1000 ISM Manufacturing Employment Index for Jan: Expected 46.6; Prior 45.1

1000 ISM Manufacturing New Orders Index for Jan: Prior 46.8

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory ($1= C$1.32)

Reporting by Swathi Nair in Bengaluru; Editing by Maju Samuel

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